Improved payments for another sector of pensioners
Around 44,500 pensioners will benefit from improved payments from another two social measures; the Senior Citizen Grant and the Bonus given to those persons who did not pay enough social contributions to benefit from pensions.
Those persons eligible will benefit from the rise in payments as from Saturday, 6th February 2020. Through the rise in pension benefits, which were already distributed in January, and other social measures, the government is investing more than €15 million.
Minister Michael Falzon announced these details along with Permanent Secretary Mark Musu. Minister Falzon said that the Senior Citizens Grant will be given to persons who are still living in the community and are aged 75 years and over. He added that, through a change introduced last year, this grant will also be given to those persons living in a private elderly residence and are paying for the service from their own pocket.
Minister Falzon said that, with this grant, persons aged between 75 and 79 years will receive €300, while those aged over 80 years will receive €350.
The Minister also announced that there will be an increase in the bonus given to those who have reached retirement age but who do not have enough contributions to qualify for a pension. As from next Saturday, this bonus will see a rise of €50 to reach €250, if these persons would have paid from one year to four years of contributions, and €350 to those who have paid five years or more in contributions.
Permanent Secretary Mark Musu explained how 33,732 beneficiaries who are 75 years of age will benefit from the Senior Citizen Grant. Expenditure on this grant will reach €11,004,103.
Subsequently, 14,907 persons will benefit from the bonus for those who paid contributions but are not eligible for a pension, with expenditure reaching €4,296,779. Amongst these, there are 3,302 persons who are aged 75 years and over who will receive this bonus and the Senior Citizen Grant, thanks to a social measure which was introduced in 2019.
All those persons that will reach eligible age after January 1st will receive the benefit or the increase pro-rata this year, and will start receiving the full benefit as from next year. This applies to both benefits.
Minister Michael Falzon said that this shows clearly that the government is committed in improving the financial situation of pensioners and the elderly. Minister Falzon emphasised on the social measures introduced by this government and said that this is only a part of the government’s holistic policy towards the elderly.
Minister Michael Falzon said that these two additional social measures compliment the government’s mission to continue help the elderly financially.
“All this, along with the sixth consecutive increase in overall pensions, no taxation on social security pensions, decreases in energy bills, the eradication of out of stock medicines, and no additional taxes. This is the policy of the Labour government, where we strive to give prosperity and dignity to all our senior citizens,” concluded Michael Falzon.